In Elliott Wave terms, GXS began a wave one advance on May 30. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 10, and the red wave two (blue sub-waves a-b-c) correction ended on June 27. If this wave count is correct, GXS should be heading next towards the June 10 peak in the red wave three.
GXChain is a fundamental blockchain for the global data economy, designed to build a trusted data internet of value. You can view their intro video below.
Both understanding and being able to explain bitcoin and the blockchain in a simple clear way is important for its growth
This was my goal when I originally wrote this piece in 2017 and is still my goal now as the world of crypto continues to grow.
This post is the first in a series that will discuss the basics of bitcoin (and other cryptos) so that we can clearly explain it to the average joe who is skeptical of it all.
In this post we will…
Learn what bitcoin is and how it came to be
Bitcoin Beginnings
Bitcoin is a new form of currency – a digital currency. It was created in 2009 by a developer(s) Satoshi Nakamato. The goal of this new currency and technology is to decentralize the power of money.
Currently the world’s money is controlled by the central banks of the issuing Country. This became ever present during the financial collapse in 2008. Central banks implemented quantitative easing and created bail outs for the large financial institutions integral to the financial crisis.
The same big banks that we use to hold our money and process our financial transactions. It is this centralized system that bitcoin and more so the blockchain are designed to make obsolete.
Decentralization
Decentralization is done by using a peer-to-peer network. Rather than relying on a central bank, middleman or government, bitcoin is empowered by everyone that makes up the peer-to-peer network.
Each individual that owns or uses bitcoin is part of the network that enables bitcoin to function. There is no central hub or center of control.
The strength and convenience of bitcoin grows as more and more people make use of it. Anyone in the world can send or accept bitcoin payments from others anywhere in the world, nearly instantaneous without paying large transactions fees.
This is what makes it revolutionary. You do not need a middle man to transact with people. Granted, there are exchanges you can buy, sell and hold bitcoin, but they are an optional as opposed to being mandatory.
Free Market at Work
Unlike fiat currency which has its value manipulated by central banks, bitcoin as a currency has its value dictated by the free market principle of supply and demand.
As for the supply side, that amount is limited to 21 million bitcoins. Nobody knows exactly why it’s 21 million, though there are many theories. Once all the coins are mined, that’s it.
The thing it does do is create a finite supply. This means more won’t be printed per se , which we know manipulates value as seen by the practices of banks with fiat currency.
Bitcoin as a Currency
Now that we have discussed the currency aspect of bitcoin and that it can be used to buy and sell things with any other person or business that accepts it we can move to the next step.
In the next post we will discuss the technology behind bitcoin – the blockchain
The price of EOS has been bouncing around near the support level in the mid 5’s of late. After making a lower higher following it’s latest top in price on June 1st it is important to pay mind to this level.
Resolution is Near
There is a descending triangle in the works as you can see from looking at the chart in this post.
Now let’s be real, you can see we still have some time before price would reach the apex, likely two weeks, assuming price were to continue grinding sideways.
As we know though, anything can happen with price action on cryptos. At anytime price could fail that 5.60 level and then open up downside risk to 4.60 (the latest bottoms).
If price pushed higher sooner rather than later we want to keep an eye on it breaching the descending trend line. 6.50 and then 7.50 are the upside targets I would keep my eyes on initially.
Conclusion
Regardless of what happens we should always have an idea of the upside and down side targets along with what if any trend a crypto’s price is currently in. That old saying “knowing is half the battle” really does ring true!
Another stagnant-price week = Another Good Chance for building your account on the Steem blockchain.
No one likes to see our beloved blockchain losing places at the coinmarketcap list week after week. We have touched the 77th position this week and we are now at the 74th, hope we have touched the bottom… What is clear is that still there are so much Liquid Steem in the Exchanges but I think the increasing trend is decelerating a little, I guess that the reductions on withdrawals to exchanges by @steemit this week is helping a little.
However, as I said in the first paragraph, I remember many people complaining about how expensive was to buy Steem at the time it was costing 4, 5 or 6 USD each, and many of them were almost hoping to see a lower steem price in order to buy and compound/build their accounts.
Ok, so the good time for buying STEEM is NOW.
Despite the current correction of the Crypto Market, BITCOIN is growing, scaling in price, recovering its dominance.
Altcoins, as STEEM, are struggling behind because now, what people is looking at is mainly how to accumulate BITCOIN instead, anyway if for doing so they will lost their investment in other crypto projects…as ours.
What too many people is forgetting when doing this is that once BITCOIN will stabilize its dominance, the transference period will arrive and so, those who have been building their accounts day by day will have their prize…
And then, we will read and hear again people complaining about “how expensive will be to build their Steem account at the current prices” and “what a pity I did not invest 150$ to become a minnow when Steem was so cheap…”
Believe me, that will happen again.
Don’t look for better Social Related Blockchains, STEEM is the one and only. The development is higher here, the communities are stronger and the level of decentralization, despite not being perfect, is also good.
For me there are three important words in order to self-success at the STEEM blockchain:
INVESTING
ENGAGING
COMPOUNDING
Probably, the most important is ENGAGING but the combination with the other 2, INVESTING and COMPOUNDING, makes as a result the SUCCESS in the platform.
SBI SPONSORING
My SBI shares for this week are going to @javirid , @anaclark and @mrhill .
@javirid has already crossed the line of “MINNOW HOOD” a few days ago, I am super happy for him. Additionally, he has revealed this week the project on which @javirid is working on. He has not explained it in detail but it seems to be an Steem-based dapp in order to provide an interface of @dsound application . As I said many times before, this guy deserves to be supported and followed because besides being a good developer, he has a clear thinking and very interesting opinions about any topic, from politics to Blockchain technology.
@anaclark stole my heart a few weeks ago… however, she stopped writing for a while a few weeks ago, but now she is back fully motivated and willing to understand as much as possible about our Blockchain. I would recommend you to read this post and this post from her which are very interesting. She is starting to understand how the Steem Blockchain works so she is posting questions openly about SP, SBD, Power up/down, rewards… I think she is already hooked by the project (LoL).
Besides the @steembasicincome share I am going to delegate some SP to her, just to give her some release in terms of Resource Credits “maneuverability”.
@mrhill , another guy who deserves more attention. He is really progressing very fast and also has received a delegation recently from @grider123 . He has wrote an amazing post about “COMPOUNDING SP” with some interesting experiences in.
All in all, they represent really good candidates for the #tenKminnows@steevc initiative,
After being a complete lump on a log and trading in a range tighter than usual for an extended period of time, we may have something here. Steem is looking at breaking up on a 4 hour timeframe and targeting back to the top of the range. With all the innovation improving daily and price staying the same, I am finding harder to believe that price will just stay stagnant. I believe and Up move is in the works here.
That title may have thrown you for a second. As investors a Limited Liability Corporation (LLC) is one of the best tools we can use for investment properties for both liability and tax purposes.
However, there are some scenarios when using one does not make sense.
When Not to Use an LLC for an Investment Property
1.) House Hacking, FHA Loan, etc.
If you plan on living in the home and leverage loans designed for owner occupants then you would not want to purchase in an LLC, but rather your own name.
LLC’s cannot procure certain loans, such as ones back by the Federal Housing Authority (FHA). That loan needs to be in your own name.
If you plan to refinance out of that home and move to the next house hack, then at that point flipping it into an LLC can make sense.
2.) Low Down Payment Traditional Loans
As stated above you really can’t get the traditional homebuyer loans using an LLC, which also eliminates low down payment loans for the most part.
Putting down 20-25% will basically be standard when buying with an LLC. If you don’t have that kind of down payment money then an LLC is probably not the right move for you.
Protection Though
So if we aren’t in a position where leveraging an LLC makes sense how can we be protected?
It’s simple – good old insurance. It may not be perfect but it has worked for a century, just be sure you have the proper coverage.
Be sure to work through all the insurance options with your agent so nothing slips through the cracks and you and your investment is covered.
Same goes for when using an LLC, be sure to have your lawyer or accountant create it for you and structure it to your needs.
There are many variables in the real estate investing game, but in the end it is not rocket science. Due diligence and some discipline go a long way.
Been looking at the twitterverse lately. @nathanmars still going strong pushing Steem exposure forward. Bitcoin maximalists talking trash and shilling Bitcoin like its the second coming when in reality its the FORD T of crypto right now. Binance listed Dogecoin yesterday (facepalm) with the justification of:
Elon Musk mentioned it that one time!
Dogecoin went up 40% that day (i assume there was a correction soon after)… But it begs the question of how the hell did it end up at 30 in MC anyway?
I never understood this. The coin itself is a joke, had almost no development whatsoever for a long time and you hold it instead of putting it into a project with greater value and potential? It doesnt even have to be something you research thoroughly, something thats hyped up like Tron, supported like Bitcoin…. It can literally be anything. You could literally write all the top 100 cryptos without Dogecoin, each on a piece of paper and pull them out of the hat and you would draw a superior token to Doge. Yes even BSV.
But look at the other projects. Ive talked trash about ETC being listed on Coinbase. When i tried researching ETC and its usage. What i found is almost no info on any dapps and 200 times less daily transactions then STEEM.
Take a look at TRON. Hyped beyond belief, filled to the brim with gambling dapps and still has less transactions then STEEM… Im not saying transactions stats are be all, end all, but JustinTRON loves to proclaim when ever Tron passes EOS in any metric.
A few days ago i wrote this tweet:
And i really do believe it.
If McAfee said he would cut of his penis if BTC isnt at a million USD by whatever date, i will copy his wager and say that if STEEM ever reaches 10 billion USD, a third of ETH market cap right now, and one of the Steem social dapps doesnt overtake Facebook, ill cut my penis off as well and toss it into the long dark night never to be seen again. lol
On a more serious note.
The fact that we are seeing lackluster projects taking top spots in Marketcap is for me a warning sign. It shows to me that the market has a very hard time evaluating projects. Seeing Doge being listed on Binance strengthens that belief.
You can say im wrong to do so, but I will question the future of any market that sells trash assets at a premium price in the long term.
I believe that crypto has a sound foundation. I believe it has the potential (important word) to change the world, but to realize that potential the market needs to take a serious look at itself.
Ruining the perception of the outside world about cryptocurrencies will bring nothing good to anyone in the long run.
In Elliott Wave terms, DGTX began a wave one advance on June 2. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 17, and the red wave two (blue sub-waves a-b-c) correction ended on June 26. If this wave count is correct, DGTX should be heading next towards the June 17 peak in the red wave three.
…the one that we can see on BITCOIN chart right now and, in general, in mostly all the crypto market nowadays…
It is the famous Inverted Head and Shoulders pattern which used to anticipate a change on the price action, in this case upwards.
These kind of pattern often are identified as reversal patterns despite they could also indicate a continuation patterns as well.
What I don’t like at all is that the volume does not look to support the positive direction of the price according to that pattern so, I am afraid we are going to wait some time in order to see if BTC has enough power to cross the neckline.
The inclined neckline shows that 12000 USD can be a good entry point if the volume increases since it will confirm the end of the correction and the resume of the uptrend. If so, the target according to this pattern would indicate a rise around 14500 USD.
As usual, pay attention to the chart and anticipate the move in order to get the most from it.
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
In this report I will look how my analysis worked for the month of May 2019. There were 31 contests in May. I have already paid out / upvoted all of them. The analysis was correct seven times, wrong seven times and the cryptocurrency was in a range 17 times.
